Has Obama Been Good for Millionaires?

The question of whether Americans are better off than they were four years ago depends, of course, on the American.
For the 12 million unemployed, the answer is most certainly no.
But for many of America's millionaires, the answer may be more affirmative.
A new study from WealthInsight, the London-based wealth-research and data firm (and yes, they are non-partisan), showed that the United States added 1.1 million millionaires between Jan. 1, 2009 and the end of 2011, the latest period measured. There were 5.1 million millionaires in America at the end of 2011, compared with around 4 million at the end of 2008.
That works out to more than 1,000 millionaires a day under the Obama administration. (They defined millionaires as people with total net worth of $1 million or more, excluding primary residence).
(Read more: Rich Will Spend More Under Romney: Poll)
"It's true that Obama has been good for millionaires, at least in absolute terms," said Andrew Amoils, analyst at WealthInsight. "He certainly hasn't been bad for millionaires."
Amoils said that quantitative easing and financial bailouts especially helped the finance sector, which accounts for the largest share of millionaires. It also helped that markets recovered in 2009.
The timeframe is worth noting. Measured against the 2007 peak, when 5.27 million Americans had a net worth of at least $1 million, the nation lost 165,360 millionaires. Their combined wealth is down six percent, to $18.8 trillion from a peak of more than $20 trillion in 2007.
We don't know how 2012 will turn out, though if stock markets continue to strengthen, the millionaire count for 2012 is likely to increase. Wealth Insight says the number of millionaires in America will grow to more than six million by 2016, and their combined fortunes will jump 25 percent over the same period.
(Read more: Millionaires Give Nine Percent of Income to Charity)
Where did all the millionaires come from between 2008 and 2011?
Mainly from retail, tech and finance -- and in both blue and red states.
Of the sectors adding the largest number of people worth $30 million or more, the retail, fashion, and luxury goods sector ranked first. That was followed by energy and utilities, then tech, telecoms and finance. Transportation and construction saw the biggest drops.
The number of people worth $30 million or more grew 26 percent in Connecticut since 2008, 20 percent in Kansas, 12 percent in Michigan, showing that the wealth creation was nationwide.

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Obama Wins 2012 Election: Why Your Taxes Are Going Up

When President Obama and the new Congress begin to tackle important legislation and federal policy in January, one of the key issues will be how to reform America's byzantine tax code.
Obama campaigned on a platform to raise taxes on the wealthiest Americans, declaring that millionaires and billionaires need to "pay their fair share." The president proposed the highly controversial "Buffett Rule," which would make sure those individuals earning more than $1 million a year would pay at least 30% of their income in federal taxes.
Related: Do the Rich Have a Moral Obligation to Pay Higher Taxes? Gov. Jerry Brown Says 'Yes'
The top individual tax rate is currently 35% but few U.S. households and individuals actually pay that much; various tax deductions and loopholes reduce one's tax burden.
According to the Obama campaign, the richest 400 taxpayers in 2008 (who each made more than $110 million that year) paid an average income tax rate of just 18%. In 2009 over 20,000 U.S. households with more than $1 million in income paid a federal tax rate of less than 15%.
Obama has vowed to raise the top income tax rate for individuals to 39.6% and let the Bush-era tax breaks end for the highest income earners. The majority of Americans — those who are lower to middle class — could also see a 2% tax increase if Congress allows the temporary payroll tax holiday to expire at the end of the year.
Related: Here's Why Your Taxes Are Going Up 2% Next Year: Just Explain It
Nearly half of voters support raising taxes on incomes over $250,000, according to Tuesday night's exit polls.
Len Burman, a professor of public affairs at Syracuse University and a co-founder of the bipartisan Tax Policy Center, believes higher tax rates play just a small role in resolving the nation's budget woes.
"In the long term [Obama] is going to need to raise taxes on more than just the rich," Burman says in an interview with The Daily Ticker. "The budget problem isn't going to be solved without broader-based tax increases, preferably done in the context of tax reform and also serious entitlement reform. We're not going to be able to solve this on the tax side alone."
Burman, who recently co-wrote the new book "Taxes in America: What Everyone Needs to Know," says tax rates do not need to be raised for any income group if Congress and the White House would agree on one simple change: raising the capital gains rate, i.e. the profits from the sale of an investment. Assets, such as stocks, art or real estate, that are held for at least a year are currently taxed at a special 15% rate; Obama wants to raise that to 20%.
"The problem with a low tax rate on capital gains is not that it allows Mitt Romney and Warren Buffett to pay very low taxes but that it creates this huge opportunity for tax sheltering," he notes. "There's a whole industry that's devoted to coming up with these schemes. [Raising capital gains rates] could make the tax system more progressive and allow for lower tax rates" and a reduction in the deficit Burman says.
Obama's tax proposal also targets the Alternative Minimum Tax, the Estate Tax and as well as many personal tax credits and itemized deductions. Obama would make permanent the 2007 AMT patch and index it for inflation. He would raise the estate tax to 45% from 35% on estates worth more than $3.5 million. He would lower the corporate tax rate to 28% from 35% and provide a refundable $3,000 credit per added employee for companies that expand their workforce. He would tax carried interest as ordinary income.
Related: Corporate Tax Loopholes=Corporate Socialism: Pulitzer Prize Winner David Cay Johnston
A divided Congress refused to compromise with Obama during his first term and could very well dismiss the president's tax reforms for the next four years. Republicans are loathe to raise taxes by even a penny and Obama has said he would veto any budget bills that did not include tax increases. Neither party wants to raise taxes in a weak economy. But the options available for reducing the deficit and generating new revenue are few and far between.

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Wall Street sinks after election as "fiscal cliff" eyed

NEW YORK (Reuters) - The Dow industrials lost more than 300 points in a sell-off on Wednesday that drove all major stock indexes down over 2 percent in the wake of the presidential election as investors' focus shifted to the looming "fiscal cliff" debate and Europe's economic troubles.
The Standard & Poor's 500 Index posted its biggest daily percentage drop since June, with all 10 S&P sectors solidly lower and about 80 percent of stocks on both the New York Stock Exchange and the Nasdaq ending in negative territory. Both the Dow and the S&P 500 closed at their lowest levels since early August.
Financial stocks and energy shares, two sectors that could face increased regulation after President Barack Obama's re-election, were the weakest on the day. The S&P financial index (.GSPF) lost 3.5 percent, while the S&P energy index (REU:^GSPEI) fell 3.1 percent. An S&P index of technology shares (.GSPT) slid 2.8 percent as the stock of Apple Inc (AAPL) entered bear market territory.
Obama's victory had been anticipated, though many polls indicated a close race between the president and Mitt Romney, his Republican challenger, going into election day.
The election was considered a major source of uncertainty for the market, but now the focus turns to the fiscal cliff, with investors worrying that if no deal is reached over some $600 billion in spending cuts and tax increases due to kick in early next year, it could derail the economic recovery.
The Republican Party retained control of the U.S. House of Representatives, while the Senate remained under Democratic control.
David Joy, chief market strategist at Ameriprise Financial in Boston, said this kind of divided government was disappointing "since that configuration has resulted in gridlock and there's no clear path towards unlocking that.
"It holds implications for how quickly we resolve the fiscal cliff issue, or whether it gets resolved at all," said Joy, who helps oversee $571 billion in assets.
The market's losses were broad, with pessimism exacerbated by overseas concerns after the European Commission said the region would barely grow next year, dashing hopes for improvement in the short term.
Still, some viewed the day's slide as a buying opportunity, saying it was unlikely that no deal would be reached on the fiscal cliff and arguing that Europe's troubles were already priced into markets.
"There's no question that Europe is lagging the rest of the developed and emerging world, but stocks will find a base soon, when investors start seeing through some of the smoke over the region and cliff," said Richard Weiss, who helps oversee about $120 billion in assets as a senior money manager at American Century Investments in Mountain View, California.
The Dow Jones industrial average (^DJI) slid 312.95 points, or 2.36 percent, to close at 12,932.73. The Standard & Poor's 500 Index (^GSPC) fell 33.86 points, or 2.37 percent, to 1,394.53. The Nasdaq Composite Index (^IXIC) lost 74.64 points, or 2.48 percent, to close at 2,937.29.
The S&P 500 closed below the key 1,400 level for the first time since August 30, while the Dow ended under 13,000 for the first time since August 2.
About 7.81 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, slightly below last year's daily average of 7.84 billion, though Wednesday's volume did surpass that of many recent sessions.
Contributing to the Nasdaq's decline, Apple shares fell 3.8 percent to $558, off 20.8 percent from an all-time intraday high of $705.07 set on September 21. That slump puts the stock of the world's most valuable publicly traded company in bear market territory.
Despite Wednesday's sell-off, all three major U.S. stock indexes were still up for the year. At Wednesday's close, the Dow was up 5.9 percent for 2012 so far, while the S&P 500 was up 10.9 percent and the Nasdaq was up 12.8 percent.
Wednesday's plunge was a reversal from Tuesday's rally when voting was under way. Defense and energy shares were among the market leaders that day, causing speculation that some investors were betting on a Romney win.
On Wednesday, an index of defense shares (.DFX) fell 2.9 percent, its biggest one-day drop in a year. Shares of United Technologies (UTX) dropped 2.9 percent to $77.68 while Lockheed Martin (LMT) sank 3.9 percent to $91.15.
Energy shares fell as investors bet that the industry may see increased regulation in Obama's second term, with less access to federal lands and water. Crude oil shed more than 4 percent while an index of coal companies (.DJUSCL) plunged 8.8 percent. Coal firms Peabody Energy (BTU) lost 9.6 percent to $26.24 and Arch Coal (ACI) sank 12.5 percent to $7.58.
Among financials, JPMorgan Chase & Co (JPM) fell 5.6 percent to $40.46 and Goldman Sachs (GS) dropped 6.6 percent to $117.98.
"The notion that you may have gotten a respite on the financial services side (with regulation) if Romney had been elected is obviously being unwound," said Mike Ryan, chief investment strategist at UBS Wealth Management Americas in New York.
Healthcare stocks were mixed as President Obama's re-election rules out the possibility of a wholesale repeal of his healthcare reform law, though questions remain as to what parts of the domestic policy will be implemented. The S&P health care index (REU:^GSPAI) shed 1.9 percent. In contrast, Tenet Healthcare (THC) was the S&P 500's biggest percentage gainer, up 9.6 percent at $27.34.
In 2008, stocks also rallied on election day, but then fell by the largest margin on record for a day following the vote, with each of the three major U.S. stock indexes posting losses ranging from 5 percent to 5.5 percent.
After the bell, both Qualcomm Inc (QCOM) and Whole Foods Market Inc (WFM) reported results. Qualcom's revenue beat expectations, sending shares up 8 percent to $62.75 in extended trading, while Whole Foods dropped 3.3 percent to $92.75 after the bell. In the regular session, Qualcomm slid 3.7 percent to close at $58.12, while Whole Foods dropped 2.1 percent to $95.93.

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Soccer-Coach Fernandez leaves bottom club Nancy

PARIS, Jan 11 (Reuters) - Coach Jean Fernandez has left Ligue 1 basement side Nancy after 18 months in charge, the French club said on Friday.
"On Thursday, Jean Fernandez told the players and the management he was leaving the club," Nancy said on their website (www.asnl.net).
The club's academy director, Patrick Gabriel, would serve as interim coach for Saturday's home league game against Lille, they said.
The 58-year-old Fernandez, a former Marseille coach, joined Nancy in June 2011 from Auxerre, a club he managed to qualify for the Champions League group stage in 2010-11 despite modest resources. His success brought him the award for best coach in 2010.
Nancy, who have won only their league opener this term, are on 11 points from 19 games, eight points from safety.
The club have also been experiencing financial troubles and said they were willing to get rid of up to five players in order to cut their deficit.

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Soccer-Aguero's comeback still a week away, says Mancini

LONDON, Jan 11 (Reuters) - Manchester City striker Sergio Aguero will miss Sunday's match against Arsenal and faces another week on the sidelines with a hamstring injury, manager Roberto Mancini said on Friday.
The 24-year-old Argentine, who is City's joint top-scorer this season with 10 goals, picked up the injury in City's 3-0 win over Stoke City on New Year's Day and was forced to sit out their FA Cup victory over Watford last weekend.
"Sergio won't be available for at least another week," Mancini told reporters.
"He should make the game against Fulham but we won't risk him against Arsenal. He should be ready by next weekend."
Premier League champions City, who will be able to call on left back Aleksandar Kolarov after a four-week injury absence, have not won at Arsenal in 37 years.
"We want to end this run but it will be very difficult because Arsenal are a very good team," Mancini said.
"We are missing a number of important players but we can go there and come away with a good result. We are seven points behind United at present but I don't feel we deserve to be so many points behind.
"Our strikers have been coming back into form again and scoring goals and we will need them to keep doing that. Sometimes you go through a period when you don't score so many but we have scored 10 in our last three games so things are improving.

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Soccer-Milito could return for Inter after injury

ROME, Jan 11 (Reuters) - Diego Milito could return for Inter Milan as they look to get their Italian title challenge back on track against struggling Pescara on Saturday (1945 GMT).
The Argentine striker missed Inter's 3-1 defeat at Udinese last week due to a knee injury but manager Andrea Stramaccioni said on Friday that he was well again.
"Milito has recovered; he has a small problem with his knee that causes him a bit pain but isn't a serious medical problem," said the Inter coach at Friday's pre-match news conference.
Inter are fifth in Serie A on 35 points, nine behind leaders Juventus, after picking up one point in their last three games.

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Soccer-Wenger optimistic over Walcott's Arsenal future

LONDON, Jan 11 (Reuters) - Arsenal manager Arsene Wenger said he was "optimistic" that England international Theo Walcott will commit his long-term future to the London club and sign a new deal.
Barely a week goes by without the Frenchman being asked whether progress has been made on persuading top scorer Walcott to stay at the Emirates Stadium.
Walcott, who has hit eight Premier League goals this campaign, is out of contract at the end of the season,
"Discussions progress smoothly but slowly. We are on a good road but in this situation, as long as nothing is signed, you are cautious," Wenger told a news conference on Friday.
"But I am optimistic we will get to a happy conclusion. I was optimistic last week, but I am a bit more optimistic this week."
Walcott has made no secret of his desire to switch from the wing to play in the centre forward role and has revelled in that position in recent games, including netting a dazzling hat-trick in the 7-3 win over Newcastle United in late December.
Wenger said any new deal would not revolve around Walcott being assured of playing as a central striker, although he did envisage him getting more time in that role.
"No, it is not linked with that," he said. "I believe that Theo can have a preference maybe to play through the middle but first of all he never made a condition of that to extend his contract, because certainly I would not accept it.
"Secondly he was always happier when he plays, whether it is on the flank or through the middle. That has no influence at all. But I see him playing more up front, yes."
Arsenal host second-placed Manchester City on Sunday (1600) with striker Olivier Giroud rated as "50-50" to play by Wenger after suffering a cut knee in the FA Cup tie with Swansea last weekend.
Sixth-placed Arsenal are unbeaten in five league games but Wenger said his side needed "another positive result in a big game" to maintain pursuit of the clubs above them.
"We know this a vital period for us," he said. "We are on a positive run. We still lack a bit of confidence in some situations and I feel our team will be very dangerous if we have full confidence.

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"GameStick" Will Be the Size of a USB Memory Stick, Plug into Your TV

When the Ouya game console (scheduled to launch in April) made headlines last year, it was for three reasons. One, its size and price -- the $99 box, which plugs into a TV, is the size of a Rubik's cube. Two, its choice of operating system -- it runs the same Android OS which powers smartphones and tablets. And three -- its rise to fame on Kickstarter, where it shattered records and received millions of dollars in funding not from venture capitalists, but from gamers who wanted to see it made.
Now GameStick, "The Most Portable TV Games Console Ever Created," is preparing to make a name for itself in exactly the same ways. Except that in some of them, it surpasses the Ouya.
Not even a set-top box
Up to this point, pretty much all home game consoles have been a box that sits on your shelf and plugs in to your TV. (Some PCs even do this these days.)
The GameStick, on the other hand, is about the size of a USB memory stick or a tube of lip balm. It plugs into a TV's HDMI port, and connects to a wireless controller (or even a mouse and keyboard) via Bluetooth. It "works with any Bluetooth controller supporting HID," and will come with its own small gamepad, which features twin analog sticks and a slot to put the GameStick itself inside when not in use.
Do we know if it works yet?
GameStick's creators showed off pictures of a nonworking "Mark 1 Prototype Model," and posted video of a "Reference Board" actually playing games while plugged into a television. This was a roughly USB-stick-sized circuit board, which lacked an outer case.
The reference unit had wires coming out of it, but the GameStick FAQ explains that on new, "MHL compliant TVs" it can draw power straight from the HDMI port, in much the same way that many USB devices are powered by a USB connection. A USB connector cable will be supplied with GameStick just in case, and "there will also be a power adapter."
What about the games?
The GameStick reference unit was playing an Android game called Shadowgun, an over-the-shoulder third-person shooter which is considered technically demanding by Android device standards.
GameStick's creators say "We have some great games lined up already," and AFP Relax confirms that it has roughly the same internal specs as the Ouya, plus a lineup at launch of about a dozen games including several AAA Android titles.
How much will it cost, and when will it be out?
GameStick is available for preorder now from its Kickstarter page for $79. (The price includes the controller as well.) It has an estimated delivery date of April if the project is fully funded -- and with 28 days to go, it had more than reached its $100,000 goal.
Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.

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5 Predictions for Mobile Tech in 2013

If denial isn't just a river in Egypt, then mobile isn't just a city in Alabama. And if 2012 proved one thing, it's that there's no denying mobile is the present and future of technology.
Sales figures for mobile devices reached new heights in 2012. Market research firm Gartner predicted tablet sales would near 120 million, about doubling the total sold in 2011.
[More from Mashable: Would You Make Your Kid Sign a Contract to Use an iPhone?]
In addition, the number of active smartphones eclipsed 1 billion during the past year. That's one for every seven people on the planet. And while it took almost two decades to reach 1 billion active smartphones, research firm Strategy Analytics projects there will be 2 billion by 2015, fueled by growth in developing economies in China, India and Africa.
It's not just phones and tablets though. All sorts of smart mobile technology flourished in 2012, from watches and wristbands to glasses that can project video on the inside of the lenses. Speaking of glasses, in April, Google sent the tech world into a tizzy when it unveiled plans for a futuristic headset called Project Glass.
[More from Mashable: ‘Offensive Combat’ Brings Hardcore Gaming to Facebook]
Well, if you think mobile came a long way in 2012, this year could be even better. Here's an outline of where we think mobile technology is headed in 2013.
Brand Wars Will Drive Innovation
In terms of smartphones, mobile in 2013 will be like an evening of boxing. For the main event, heavyweights Apple and Samsung will square off to see which can produce the world's most popular device.
The Samsung Galaxy III recently dethroned the iPhone for that honor. While Apple went conservative with new features on the iPhone 5, Samsung went bold, equipping the Galaxy S III with an enormous 4.8-inch display, near field communication (NFC) technology (more on this later), a burst-shooting camera and a voice-enabled assistent akin to the iPhone's Siri.
Apparently, Apple is preparing to counter-punch. There are already rumors that Apple is testing its next iPhone, identified as "iPhone 6.1" which runs iOS 7.
Behind the iPhone and Galaxy a host of capable contenders are hungry for a shot at the belt, including devices from Motorola, HTC and Nokia.
There might even be some new players in the game. It seems likely that Amazon will debut a Kindle Phone sometime in 2013. There was even talk that Facebook was working on its own smartphone, but CEO and founder Mark Zuckerberg squelched those rumors in September.
What does this all this mean for us? It means better phones. Competition drives innovation. Look for these brands to consistently try to one-up one another with faster processors, better cameras and more innovative features.
That's not the only battle that will play out in 2013. Another one to watch will be the fight for third place in mobile operating systems. Android is the undisputed number one with nearly 75% global market share. While Apple's iOS is miles behind Android, it is still firmly entrenched at number two.
In 2013, the top two contenders for third place will be Windows Phone 8 and BlackBerry 10, which is expected to launch in the coming months.
A few dark horses are running in this race for third. Mozilla plans to launch a Firefox OS sometime during 2013. Then, there is Tizen, a Linux-based mobile OS. Samsung recently revealed plans to release Tizen-based devices in 2013.
Both Firefox and Tizen are open source mobile operating systems, but they won't be the only ones. There are two other open source mobile operating systems to watch going forward. Jolla expects to release smartphones and possibly tablets running its Sailfish OS in 2013; and Ubuntu-based smartphones should hit the market by early 2014.
No NFC Mobile Payment, Yet
Before leaving the house, most will check to make sure they have three things: keys, wallet and cellphone. Well, thanks to NFC technology, cellphones might soon lighten the load by essentially replacing wallets with an "e-wallet."
It seems like we have been talking about NFC for years now. Basically, it enables two devices to make a very short-range and secure connection through radio technology. If a smartphone is equipped with NFC, as are most newer-model Androids, and if a retailer has an NFC terminal, one could make a purchase by simply tapping the phone on the terminal.
NFC technology also has other applications, such as data transfer between phones, but mobile payments is the feature most often discussed.
Services like Isis and Google Wallet are already in place. They secure one's payment information within a device.
The reason why mobile payment through NFC has not yet hit the mainstream is that device penetration is not at the point where it has prompted retailers to update their technology. Basically, not enough smartphones have the technology. Androids have started to adapt, but unlike iPhones, Android hardware is not uniform across the various devices.
While the wheels have been in motion for some time, they're really spinning now that most new Androids, including the Galaxy S III, come with NFC. If Apple releases a new iPhone during 2013, and if Apple decides to include NFC this time around, it will probably tip the scales in favor of rapid adoption of mobile payment.
Even if all that does happen, however, there probably won't be a new iPhone until later in the year, so odds are you're not going to see NFC penetrate the mainstream during 2013. Maybe 2014 will finally be the year of NFC.
Flexible Smartphones
Here's something you never knew you needed -- a flexible smartphone. These devices will be lighter, more durable and the screen will be bendable. This feat is possible by making the display out of an organic light-emitting diode (OLED) and shielding it in plastic rather than glass. Samsung is reportedly moving forward with plans to start producing a bendable phone.
Samsung is not the only player in this game, however. Many companies are developing bendable screens. At Nokia World in London in 2011, Nokia showed off a device which not only bends but is controlled by bending. Check it out in the video below.

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Baby Bones Found Scattered in Ancient Italian Village

SEATTLE — The death of an infant may not have been an occasion for mourning in ancient Italy, according to archaeologists who have found baby bones scattered on the floor of a workshop dating to the seventh century B.C.
The grisly finds consist of bone fragments uncovered over years of excavation at Poggio Civitate, a settlement about 15 miles (25 kilometers) from the city of Siena in what is now Tuscany. The settlement dates back to at least the late eighth century B.C. Archaeologists excavating the site have found evidence of a lavish residential structure as well as an open-air pavilion that stretches an amazing 170 feet (52 meters) long. Residents used this pavilion was as a workshop, manufacturing goods such as terracotta roof tiles.
In 1983, scientists uncovered a cache of bones on the workshop floor, consisting mostly of pig, goat and sheep remains. But among the bony debris was a more sobering find: two arm bones from an infant (or infants) who died right around birth.
In 2009, another baby bone surfaced at the workshop, this one a portion of the pelvis of a newborn. [See Images of the Infant Bones]
The bones "were either simply left on the floor of the workshop or ended up in an area with a concentration of discarded, butchered animals," said Anthony Tuck, an archaeologist at the University of Massachusetts, Amherst, who presented an analysis of the bones Friday (Jan. 4) at the annual meeting of the Archaeological Institute of America.
Abandoned bones
The discovery of the discarded infant bones in an area used for work could suggest that the people who labored in the workshop had little social status, Tuck said. They may have been slaves or servants whose lost infants would garner little sympathy from the community at large.
However, a third find complicates the picture. In 1971, archaeologists found an arm bone from another newborn or near-term fetus pushed up against the wall of the lavish residence along with other bones and debris. It seems as if someone swept the debris up against the wall, not differentiating between baby bones and garbage, Tuck said. [8 Grisly Archaeological Discoveries]
There's no way to know whose infant came to rest up against the wall of a wealthy person's home, said Tuck, who plans to submit the findings to the journal Etruscan Studies. Perhaps the infant belonged to a desperate servant, or perhaps to a member of the family. If so, it may be that even high-status families didn't consider babies worth mourning when they died in infancy.
The possibility can sound horrifying to modern ears, Tuck said.
"This kind of new data makes people a bit uncomfortable," he told LiveScience. "People have a tendency to romanticize the past, especially in a place like Tuscany. When we have direct evidence for this kind of behavior, it can be a little tricky to present."
Death in infancy
Nevertheless, Tuck said, there is reason to think that people have not always given infants the same community status as adults or older children. However, baby bones tend not to preserve well, which makes it difficult to know how ancient Italians in Tuscany treated their deceased infants.
Very few signs of infant burial appear in central Italian cemeteries from this time period, though, Tuck said. The handful of coffins containing baby bones that have been found are loaded with ornaments and jewelry, suggesting that only families of great wealth could have given a lost baby an adult-style funeral.
Even in modern times, societies have sometimes seen babies as belonging to a different category than adults, Tuck said. In areas of extreme poverty and stress that have high infant mortality, the death of a newborn may not trigger many outward displays of mourning, he said.
And many cultures have naming traditions that only recognize the baby's identity significantly after birth. For example, in traditional Jewish culture, a baby boy's name isn't revealed outside the family until the bris, or the ritual of circumcision eight days after birth. According to superstition, naming the baby before then would attract the attention of the Angel of Death.
The Maasai people of Africa give their newborns temporary names until a ceremony as late as age 3, in which the child receives a new name and has his or her head shaved to symbolize a fresh start in life.
On the other hand, not all ancient cultures differentiate between the burials of babies and adults. Stone Age infant graves found in Austria in 2006 date back to 27,000 years ago and contain the same beads and pigments as adult gravesites.
The people who lived in Poggio Civitate more than 2,000 years ago have left little evidence of how they viewed infants, but Tuck and his colleagues expect more finds to emerge as the researchers continue to dig in the Tuscany hills. More evidence that high- and low-class babies were buried differently would suggest that the civilization had a rigid hierarchy, they said.
Images of more than 25,000 objects recovered from the site can be found at Open Context, an open-source research database developed by the Alexandra Archive Institute.

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